Victoria, BC - November 9, 2004 – Terapeak www.terapeak.com , an Internet research company based in Victoria, BC. today announced the launch of its eBay (NASDAQ: EBAY) data mining toolset for eBay entrepreneurs. Terapeak's proprietary "smart search" technology accesses licensed data from closed auctions on eBay and makes it available online. Using Terapeak, eBay sellers can instantly research up-to-the-minute prices and demand for items sold on eBay - from diamonds to DVD's, electronics to appliances. Terapeak is the first company authorized by eBay to perform statistical analysis of eBay's categories.
Terapeak participates in eBay's data licensing program which gives qualified companies access to eBay's closed auction data. Terapeak helps eBay users sell more effectively by giving them the information they need to accurately understand and predict the performance of their eBay listings. Using Terapeak, sellers can compare the previous sales success of different listings for exactly the same items.
A Terapeak analysis showed that one seller listed 30,000 items with a 17 percent success rate while another other listed 2,500 identical items with a 73 percent success rate. Both offered competitive shipping prices, both were power sellers with better than 98 percent positive feedback and both had attractive and detailed auction pages. Terapeak revealed the major difference between these two sellers was the starting price of their auctions. The more successful seller nearly always started auctions at or just below the average market price while the other seller started consistently higher.
Terapeak was born from its founders' experience using eBay. "When we were selling on eBay, we wanted a quick and easy way to find out what was happening in our category and what factors had the biggest impact on our sales success," relates Anthony Sukow, Terapeak's CEO and co-founder. "We weren't satisfied with what was out there so we decided to build our own system that could give the depth, accuracy and timeliness that we were seeking."
Terapeak data mining can also isolate the best time to list a specific product and identify the best features to highlight to attract customers. Terapeak offers two versions of its toolset: Terapeak Lite, which limits price searches to one day of closed auctions at a time for $9.95USD per month and Terapeak Research Complete, which enables users to search up to 30 days at a time for $16.95USD per month. The Terapeak toolset is available at www.terapeak.com.